The Dominican Republic’s currency is the Dominican peso (DOP). The Dominican peso is divided into 100 centavos, and is the official currency of the Dominican Republic. The peso was introduced in 1844, replacing the Haitian gourde. The Dominican Republic has a history of monetary instability, and the peso has been subject to periods of high inflation. The peso is currently pegged to the U.S. dollar (USD) at a rate of 1 USD = 50.0 DOP.